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- 1. ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC. Pay Equality: Time to Fix it! August 21, 2018
- 2. 2 A Look at Equality At Its Best https://www.facebook.com/finansforbundetN O/videos/10156793637468273/ ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 3. 3 Pay Equality Agenda ✓Compensation legislation ✓Size of the issue ✓Tools to analyze ✓Time to fix it! ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 4. 4 Compensation/Pay Equity Legislation ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 5. 5 It’s the Law Equal Pay Act 1963 ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 6. 6 It’s the Law ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 7. 7 Claims Filing ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 8. 8 Size of Issue ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 9. 9 Why It Is Important ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC 74¢ 78 to 82 ¢
- 10. 10 Why It Is Important ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 11. 11 Why It Is Important ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC 78% 80% 53%
- 12. 12 You Decide – Are They Doing it Right? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 13. 13 High Profile Companies ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 14. 14 High Profile Individuals ▪ Mark Wahlberg & Michelle Williams ▪ BBC ▪ E!News ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 15. 15 High Profile Movements ▪ #MeToo ▪ #WhyWeWearBlack ▪ #TimesUp ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 16. 16 Talent Shortage ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC 42 to 68 days/6 – 9 months
- 17. 17 Engagement Cost Effect ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC Category Percent of People Investment Return Dollar Value Engaged 25 – 30% 1.0 $50,000 Example: $50,000 Annual Salary
- 18. 18 Engagement Cost Effect ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC Category Percent of People Investment Return Dollar Value Highly Engaged 10 – 12% 1.25 $62,500 Example: $50,000 Annual Salary
- 19. 19 Engagement Cost Effect ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC Category Percent of People Investment Return Dollar Value Somewhat Engaged 45- 50% .6 $30,000 Disengaged 10% or less .4 $20,000 Example: $50,000 Annual Salary
- 20. 20 Engagement Cost Effect ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC Category Percent of People Investment Return Dollar Value Highly Engaged 10 – 12% 1.25 $62,500 Engaged 25 – 30% 1.0 $50,000 Somewhat Engaged 45- 50% .6 $30,000 Disengaged 10% or less .4 $20,000 Example: $50,000 Annual Salary
- 21. 21 Fairly and Properly Compensated ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 22. 22 Exercise ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 23. 23 Tools ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 24. 24 Discrimination Analysis ▪ At least annually ▪ Three protected classes ▪ Excel or HRIS ▪ Large Differences ▪ Same job and similar job ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 25. 25 Equity Analysis ▪ At least annually ▪ Pay against each other in same job ▪ Excel or HRIS ▪ Acceptable Differences ▪ Pay Range Use ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 26. 26 Time To Fix It! ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 27. 27 Make Equal Pay a Reality! 2059??? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 28. 28 Who is Doing Something? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC 64% Taking Action 43% Philosophy 36% Gap Issues
- 29. 29 Who is Getting it Right? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 30. 30 Who is Getting it Right? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC Salary History
- 31. 31 Who is Getting it Right? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 32. 32 Who is Getting it Right? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 33. 33 How to Drive Positive Change ▪ Starting pay ▪ Formal hierarchy ▪ Pay range for every job ▪ Process use to establish pay range ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 34. 34 How to Drive Positive Change ▪ Monitor merit increases ▪ Train supervisors ▪ Document compensation guidelines ▪ Audit pay practices ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 35. 35 Gender Diversity/Equity Results ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC %
- 36. 36 Gender Diversity/Equity Results ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC % %
- 37. 37 Gender Diversity/Equity Results ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 38. 38 Self-Reflection What do you need to do? What did you learn? ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 39. 39 Pay Equality Agenda ✓Compensation legislation ✓Size of the issue ✓Tools to analyze ✓Time to fix it! ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC
- 40. ©Copyright 2018. All Rights Reserved. Total Reward Solutions, LLC 40 Contact Info: Cassandra Faurote at info@totalrsolutions.com or 317-589-8529 www.totalrsolutions.com Thanks!